Enterprises registered and established in Qianhai and actually operating or investing in Qianhai borrow RMB funds from banks operating RMB business in Hong Kong and settle the funds through banking financial institutions in Shenzhen. The prerequisite for cross-border loans refers to enterprises registered and established in Qianhai and actually operating or investing in Qianhai.
Regulations:
Chapter I General Provisions
Article 1 In order to promote the further development of offshore RMB business in Hong Kong and support the development and construction of Qianhai Shenzhen-Hong Kong Modern Service Cooperation Zone (hereinafter referred to as Qianhai), these Measures are formulated in accordance with the spirit of the Overall Development Plan of Qianhai Shenzhen-Hong Kong Modern Service Cooperation Zone and the Reply of the State Council on Supporting the Development and Opening of Shenzhen Qianhai Shenzhen-Hong Kong Modern Service Cooperation Zone.
Article 2 The term "cross-border RMB loans in Qianhai" as mentioned in these Measures refers to qualified domestic enterprises borrowing RMB funds from banks operating RMB business in Hong Kong. Eligible domestic enterprises (hereinafter referred to as borrowing enterprises) refer to enterprises registered and established in Qianhai and actually operating or investing in Qianhai.
Article 3 A borrowing enterprise shall carry out relevant business in accordance with the provisions of these Measures, and fulfill the obligation of providing corresponding business data and filing.
Article 4 The term "domestic settlement banks" as mentioned in these Measures refers to Shenzhen banking financial institutions that handle the settlement of cross-border RMB loan funds in Qianhai. Domestic settlement banks shall carry out relevant business in accordance with the provisions of these Measures and perform corresponding audit responsibilities.
Article 5 The Shenzhen Central Sub-branch of the People's Bank of China (hereinafter referred to as Shenzhen PBOC) shall, under the guidance of the Head Office of the People's Bank of China, supervise the cross-border RMB loan business in Qianhai in accordance with these Measures.
Chapter II Loan Investment, Term and Interest Rate
Article 6 The People's Bank of Shenzhen shall manage the balance of RMB loans obtained by Qianhai enterprises in Hong Kong according to the development of RMB business in Hong Kong, the needs of Qianhai construction and the needs of domestic macro-control.
Article 7 The use of cross-border RMB loans in Qianhai shall be used for the construction and development of Qianhai on the premise of complying with relevant national policies.
Article 8 The term of cross-border RMB loans in Qianhai shall be independently determined by both borrowers and lenders within a reasonable range according to the actual use of the loans.
Article 9 The interest rate of cross-border RMB loans in Qianhai shall be independently determined by both borrowers and lenders, and shall be filed with the People's Bank of Shenzhen before the loans are issued.
Chapter III Business Handling
Article 10 Before handling cross-border RMB loan business in Qianhai, a borrowing enterprise shall file a filing application with Shenzhen People's Bank through a domestic settlement bank.
Article 11 Borrowing enterprises shall, in accordance with the Measures for the Administration of RMB Bank Settlement Accounts, submit business licenses and other materials to domestic settlement banks, and apply for opening a general deposit account, which is specially used for depositing cross-border RMB loan funds from Qianhai remitted from Hong Kong, and the account shall not handle cash receipts and payments.
Article 12 The borrowing enterprise shall repay the principal and interest of the cross-border RMB loan in Qianhai to the domestic settlement bank on the basis of the loan contract, the power of attorney for payment, the tax payment certificate and other materials.
Article 13 Cross-border RMB loans in Qianhai shall be settled through overseas RMB clearing banks or domestic correspondent banks.
Article 14 Borrowing enterprises and their domestic settlement banks shall handle cross-border RMB loans in Qianhai, and declare the balance of payments in accordance with the Measures for Reporting Balance of Payments Statistics and other relevant regulations.
Article 15 Domestic financial institutions and enterprises may provide guarantees for cross-border RMB loans in Qianhai by way of guarantee, mortgage or pledge in accordance with the provisions of the Guarantee Law of People's Republic of China (PRC), the Property Law of People's Republic of China (PRC) and the Notice of the People's Bank of China on Defining Relevant Issues Concerning Cross-border RMB Business.
Chapter IV Business Supervision
Article 16 A domestic settlement bank shall examine the authenticity of cross-border RMB loan funds used by borrowing enterprises.
Article 17 A domestic settlement bank shall earnestly fulfill its obligation of submitting information, and timely, accurately and completely submit to the RMB cross-border receipt and payment information management system the account opening information of the general deposit account opened in accordance with these Measures and the information of cross-border RMB fund receipts and payments handled through this account.
Article 18 If a domestic enterprise handles cross-border RMB loans in Qianhai and opens a RMB account in Hong Kong, it shall report to the People's Bank of Shenzhen for filing within 5 working days after the business occurs.
Nineteenth domestic settlement banks shall, in accordance with the Anti-Terrorism Law of People's Republic of China (PRC) and the relevant provisions of the People's Bank of China, earnestly fulfill their anti-terrorist financing obligations and guard against terrorist financing and other illegal and criminal activities.
Article 20 The People's Bank of Shenzhen shall conduct off-site supervision and on-site inspection of Qianhai's cross-border RMB loan business in accordance with these Measures.
Chapter V Supplementary Provisions
Article 21 If a borrowing enterprise or a domestic settlement bank violates the relevant provisions of these Measures, the People's Bank of Shenzhen may suspend its handling of cross-border RMB loans in Qianhai. In violation of other laws and regulations, according to the relevant provisions.
Article 22 The Shenzhen People's Bank shall be responsible for the interpretation of these Measures.
Article 23 These Measures shall be implemented as of the date of promulgation.
How to apply for cross-border RMB loans?
What is a cross-border loan? What is the process of cross-border loan business? What is the expected annualized interest rate for cross-border loans? How long is the term of cross-border loans? What are the business models of cross-border loans? The following is for you:
1. What is a cross-border loan?
Enterprises registered in Qianhai and actually investing in Qianhai borrow RMB funds from banks operating RMB business in Hong Kong. The prerequisite for cross-border loans refers to enterprises registered and established in Qianhai and actually operating or investing in Qianhai.
2. What is the business process of cross-border loan?
1. The loan enterprise first submits an application for cross-border loan filing to the People's Bank of China through the domestic settlement bank.
2. Domestic settlement banks open general deposit accounts in Qianhai for loan enterprises to deposit cross-border RMB loan funds. Cash receipt and payment business is not allowed in this account, and the expected annualized interest rate of deposit is implemented according to the expected annualized interest rate of current demand.
3. Before the loan funds are recorded, the loan enterprise shall first submit the loan contract, instructions for the use of funds and the filing form of the People's Bank of China through the settlement bank.
4. Before the loan funds are used, the loan enterprise shall submit the relevant certification materials (purchase contract or invoice) for the use of the funds to the domestic settlement bank.
5. The loan funds shall be settled by cross-border payment through overseas RMB clearing banks or domestic correspondent banks.
6. Domestic settlement banks and enterprises provide guarantee for loan funds by means of guarantee, mortgage or pledge.
3. What is the expected annualized interest rate for cross-border loans?
The expected annualized interest rate of cross-border RMB loans in Qianhai shall be determined by both borrowers and lenders independently, and shall be filed with Shenzhen People's Bank before the loan is issued. The expected annualized interest rate of the loan is around 3%-4%.
4. What is the term of the cross-border loan?
The term of the loan is not fixed, and the borrower and the borrower shall independently determine it within a reasonable range according to the actual use of the loan.
Verb (abbreviation of verb) business model of cross-border loan
1, bank acceptance bill pledge
The enterprise pledges the bank acceptance bill it receives to the bank, and the bank gives it a credit line not higher than the effective evaluation value of the cross-border RMB loan of the bank acceptance bill.
2. Asset mortgage/pledge
Enterprises provide real estate, securities and other assets. As collateral or pledge to the bank, the bank gives a credit line not higher than the effective evaluation value of the collateral of cross-border RMB loans.
3. Borrow the existing credit line of the company's shareholders.
Corporate shareholders will allocate its existing credit line in the bank to enterprises for cross-border RMB loans, and corporate shareholders must provide guarantee. The premise of this operation scheme is that the existing credit banks among enterprise shareholders and the banks that enterprises apply for cross-border loans must be the same bank.
4. Enterprises apply for new credit lines and use cross-border loans.
According to the bank's credit products, enterprises apply for a credit line from the bank according to the conventional credit standards, and after the credit line comes down, they operate in the form of cross-border lending.
Interim Measures of the People's Bank of China on Foreign Exchange Mortgaged RMB Loans
Article 1 The object of mortgage loan. All enterprises registered in People's Republic of China (PRC), including state-owned enterprises, collective enterprises, Sino-foreign joint ventures, Sino-foreign cooperative ventures and foreign-funded enterprises, can apply for RMB loans with their own foreign exchange (including foreign exchange borrowed from abroad) as collateral. Article 2 The purpose of mortgage loan. According to the nature of foreign exchange sources, mortgage loans can be used for working capital and investment in fixed assets. For fixed assets investment, it must be included in the fixed assets investment plan of the country or region where it is located. Article 3 Types and duration of mortgage loans. Mortgage loans are divided into short-term and medium-and long-term types. Short-term mortgage loans with terms of 3 months, 6 months and 1 year; If the medium and long-term mortgage loan exceeds 1 year, the longest mortgage loan shall not exceed 5 years. Article 4 Types of mortgage. The foreign exchange used for mortgage must be cash, which is currently limited to five types: US dollars, Japanese yen, Hong Kong dollars, German marks and British pounds. Article 5 Except for special economic zones, mortgage loans are handled by the People's Bank of China on behalf of China Bank and other financial institutions. Renminbi funds for mortgage loans are provided by the People's Bank of China. The recovered RMB funds shall be returned to the People's Bank in full. The fund is managed by the head office of the People's Bank of China. Article 6 Application and examination of mortgage loan. The mortgagor shall declare the source and amount of funds to the State Administration of Foreign Exchange or local branches, and go through the loan formalities with the entrusted bank designated by the People's Bank of China after approval. Borrow foreign exchange, should submit the original loan contract and debt service plan. After being examined by the entrusted bank and meeting the loan conditions, those beyond the entrusted authority shall be sent to the People's Bank for examination. Article 7 Examination and approval of mortgage loans. Branches of the People's Bank of China in all provinces, autonomous regions and municipalities directly under the Central Government, branches of cities under separate state planning and Shenzhen Special Economic Zone (hereinafter referred to as branches of provinces, autonomous regions and municipalities directly under the Central Government) shall prepare year-end mortgage RMB loan plans and master the approved loans within the RMB loan quota issued by the head office. At the time of examination and approval, the SAFE and the People's Bank of China coordinated and supported each other. Yes, the provincial, district and municipal branches of the People's Bank of China may grant the trustee certain approval authority. Article 8 the issuance of mortgage loans. After the mortgage loan is approved by the bank, the borrower shall sign a loan contract with the bank (format attached) in triplicate, and the handling bank shall keep one copy; One copy is submitted to the foreign exchange administration branch for mortgage registration; One copy shall be kept by the enterprise for future reference.
Entrusted loan fees shall be calculated and paid according to the unified regulations of the head office of the People's Bank of China. Article 9 the recovery of mortgage loans. After the mortgage loan expires, the borrower's original amount of RMB will be returned, and the People's Bank of China's original amount of foreign exchange will be returned, which is not affected by exchange rate changes. The borrower shall not repay the mortgage loan in advance. If the bank loan cannot be repaid at maturity, the mortgaged foreign exchange shall be owned by the People's Bank of China. If the borrowed foreign exchange is used as collateral, the borrower shall still fulfill the obligation to repay the principal and interest of the foreign debt to the creditors in the original debt relationship. Article 10 Calculation of RMB loan amount. The maximum amount shall not exceed the amount of collateral calculated according to the RMB exchange rate (buying price) announced by the State Administration of Foreign Exchange on the mortgage date. Article 11 Interest on mortgage loans. Renminbi loans and foreign exchange used as collateral do not bear interest on each other. Article 12 Administration of mortgaged foreign exchange. Mortgaged foreign exchange shall be uniformly managed by the State Administration of Foreign Exchange. Foreign exchange mortgaged in various places shall be deposited by branches of the State Administration of Foreign Exchange in local China banks. After being signed by the People's Bank of China, the mortgaged foreign exchange interest deposited in the special account will be transferred by the local China Bank to the head office of China Bank and deposited in the special account for foreign exchange deposits of the People's Bank of China. The people's banks at all levels shall, after receiving the interest payment notice from the local China bank, send it to the business office of the accounting department of the head office of the People's Bank of China. Article 13 Allocation of RMB funds. The People's Bank of China allocates RMB funds to the entrusted bank according to the actual deposit amount. The RMB funds recovered by the entrusted bank shall be turned over to the People's Bank in full the next day at the latest. Article 14 Statistics. Add the item of "RMB loan with foreign exchange mortgage", and assign the accounting figures of "0234" and "0329" to this item, with the reporting code of "94". Mortgaged foreign exchange shall be reported by the local foreign exchange administration branch according to the statistics of "mortgaged foreign exchange income" and "returned mortgaged foreign exchange expenditure". Fifteenth provincial, district and municipal branches of the People's Bank of China may formulate specific implementation rules according to these Provisions and report them to the head office of the People's Bank of China for the record. Article 16 The head office of the People's Bank of China shall be responsible for the interpretation of these Measures. Seventeenth of these measures shall be implemented as of the date of arrival.
Overseas loan target
Overseas loan targets are Chinese-funded enterprises or Chinese-funded holding enterprises with independent legal personality registered in China Administration for Industry and Commerce.
Beijing business today News Today (Reporter Liu Sihong) On September 18, in official website, the central bank issued the Provisions on Matters Related to Overseas Loan Business of Banking Financial Institutions (Draft for Comment) (hereinafter referred to as the Provisions).
The "Regulations" further expanded the scope of overseas RMB loan business of domestic banks. At present, compared with overseas foreign exchange loans, the scope of RMB loans for overseas projects of domestic banks is narrow, and the loan targets are limited to overseas direct investment, foreign contracted projects and export buyer's credit-related enterprises. The Regulations relax this restriction, allowing domestic banks to directly provide overseas RMB loans to overseas enterprises within the approved business scope, and the main body of overseas loans is no longer limited to "going out" projects. In terms of loan provision, combined with business practice, domestic banks are allowed to lend medium-and long-term funds with a term of 1 year to overseas banks according to the needs of handling overseas loans, which is convenient for domestic banks and overseas banks to cooperate in pre-loan investigation and post-loan management.
Payment terms for overseas payment of RMB loans are as follows
It is stipulated that the amount of RMB loans paid overseas shall not be higher than the contract amount of project loans. Relevant information clearly shows that the accumulated amount of RMB loans provided by banks to overseas projects shall not be higher than the contract amount of project loans, RMB loan funds from overseas projects shall not be used to provide loans to China, and the non-resident deposits involved shall not be included in the current foreign debt management.
Can RMB loans only be used in China?
Renminbi loans are not limited to domestic use. On February 24th, 2002 12002, it was reported on the website of the People's Bank of China12 that the "Planning for Building a Western Financial Center in Chengdu and Chongqing" jointly issued by the People's Bank of China and other departments recently pointed out that the cross-border use of RMB should be steadily promoted. Encourage Chengdu-Chongqing region to use RMB for settlement in foreign trade cooperation with countries and regions that are building the Belt and Road Initiative. Support the banking financial institutions in Chengdu and Chongqing to issue RMB loans to overseas qualified enterprises and projects according to the current policies, and support the use of RMB bank settlement accounts (NRA accounts) of overseas institutions to handle RMB loans for overseas projects. Support the linkage between Chengdu-Chongqing financial institutions and domestic and foreign financial institutions, develop and launch RMB financial products for the international market according to law, and explore the pilot of cross-border fund pools of multinational enterprise groups. Support foreign investors to invest directly in RMB and participate in the trading of equity, creditor's rights and commodities of domestic enterprises.
The introduction of overseas RMB loans and the measures for the administration of overseas RMB loans have come to an end. I wonder if you have found the information you need?